News Forum - Thai baht falling over Omicron fears and strong US dollar

[Thaiger]

As the Covid-19 pandemic drags on, it’s not just our patience and our resolve that is weakening. The Thai baht is falling too, weakening against a stronger US dollar and global fears over the impact of the Omicron variant rapidly spreading throughout the world. Today the conversion rate stands at 33.59 baht to the US dollar just off of its peak in December of 33.7. The Thai baht had been slowly gaining ground on the US dollar, as 5 years ago the conversion rate was above 35 baht to the dollar. At around this time last year in late January […]

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[AlexPTY]

so is it the Baht falling or Dollar rising?

[Poolie]

Dollar rising due to out of control inflation.

[titanyak]

2 minutes ago, AlexPTY said:

so is it the Baht falling or Dollar rising?

The dollar is falling to GBP 2 cent in a month, the Baht is falling a lot to the Ponud this week, 44.5 last week 45.5 this week.

[Lifeboat]

I watch the exchange rate everyday.  I see it lowered on a Thursday  or Friday weekly and held low all through the week end.  If it actually  weakens on a week end it is lowered even more.  I also seen ot held in place on the weekend never raised. Corrected on a Monday to match the weekend  markets.  Clear currency  manipulation  and I am surprised  no one else has noticed this.  They never raise it on the weekends  though the rate changed for a stronger dollar.  But let it fall on a weekend, you guessed it they lower.   People spend more money around the world on a weekend, so no way is it a weaker dollar during weekend.

[Poolie]

35 minutes ago, Lifeboat said:

I watch the exchange rate everyday.  I see it lowered on a Thursday  or Friday weekly and held low all through the week end.  If it actually  weakens on a week end it is lowered even more.  I also seen ot held in place on the weekend never raised. Corrected on a Monday to match the weekend  markets.  Clear currency  manipulation  and I am surprised  no one else has noticed this.  They never raise it on the weekends  though the rate changed for a stronger dollar.  But let it fall on a weekend, you guessed it they lower.   People spend more money around the world on a weekend, so no way is it a weaker dollar during weekend.

So it being linked to the dollar means the dollar is manipulated as well?

[Convert54]

From my observations and information so called from  ever so keen finance brokers who exaggerate the minute changes in exchange even at  rates on an hourly basis is that overall there is a no significant trend on a long term basis that have given me any cause to get excited about pulling any meaningful of offshore cash assets  into Thailand.

At best is the energy put into the language used to describe forex movements, which unfortunately read like a zombie movie script with a story line recycled  for the umpteenth time !

While I am not usually prone to negativism  I do suspect that  the world is teetering on the edge of some form of global financial implosion that is only being averted by desperate machinations in the upper echelons of monetary control in the manner of fire fighters leaping  from hot spot to hot spot with the only  resource left is a  damp sack !

Foremost in my contemplation of such an occurrence is not actually the "money" question as it it is the  social reaction. My Mother described the  impact of the  Great Depression that she lived through and it was sad to hear her tales of the deprivation that struck hardest at the "high flyers" of society who had no survival skills.

I doubt a repeat of the situation will mimic that ( or at least I  genuinely hope it would not ) but there  exists a whole basket of issues for the "success" of humanity that this pandemic has at very least dented the illusion of predictable progress of superior acclaims on any basis because nothing has changed in the last 2000 years of purported and questionable knowledge of  history that has actually changed the mentality of it  which  has  remained primitive other than the elevation of the tree of power  !

As an animal that proclaims an intellectual capacity over any other  where is the explanation for the  primitive desire to destroy  perceived competition from it's own species ?

Genuine intelligence would (to me) suggest a species oriented comprehension of strategies for  continued  survival as that species. There is no such recognition in effective terms . "Business as Usual" where it can be  achieved ! Lobbying  for compensation at the expense of others if not !

Humanity as such has started to increasingly disgust me  for the  hypocrisy it continues to present !

 

 

 

 

 

 

 

[Convert54]

The  above  not on topic? Think a  little !

[DesperateOldHand]

5 hours ago, AlexPTY said:

so is it the Baht falling or Dollar rising?

Falsely manipulated? As is the usual instance.

[PapayaBokBok]

i'll buy that for a dollar!

[Lifeboat]

6 hours ago, Poolie said:

So it being linked to the dollar means the dollar is manipulated as well?

The dollar has gained in strenght all year against  other currencies,  but not Thailand  some how

[Jason]

A weaker Baht is not such a bad thing. Thai exports become cheaper to buyers, so more is sold and tourists are attracted by better value for their money. 

[Shark]

3 minutes ago, Jason said:

A weaker Baht is not such a bad thing. Thai exports become cheaper to buyers, so more is sold and tourists are attracted by better value for their money. 

Hell will freeze over before both happen at the same momentum.